Punjab & Sind Bank offers attractive investment options such as Fixed Deposits (FDs) and Term Deposits. PSB FD rates range from 3.00 percent to 5.40 percent per annum. For a period of three to ten years, the maximum PSB Fixed Deposit rate is 5.40 percent p.a. PSB Bank offers elderly residents the best FD rates, ranging from 4.95 percent per annum to 5.90 percent per annum, with a deposit period of 180 days to ten years. By putting money into a fixed deposit account, you can earn up to 27,000 per lakh. Read below to check the detailed information related to Punjab and Sind Bank FD Rates 2022 like Highlights, Features, PSB FD Interest rates, Eligibility Criteria, Required Documents, Application Procedures, and much more.
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Punjab and Sind Bank FD Rates 2022 – Comprehensive Details
Regular residents can earn 3.00-5.40 percent p.a. on FDs, while senior people can earn 3.00- 5.90 percent p.a. on FDs with terms ranging from 7 days to 10 years. The general public’s interest rate on Punjab and Sind Tax Saving FDs is 5.40 percent per annum, while senior citizens’ interest rate is 5.90 percent per annum. For NRIs, the bank offers a variety of fixed deposit products, including NRO, RFC, NRE, and FCNR (B) fixed deposits. FCNR (B) fixed deposits in US Dollars (USD), Japanese Yen (JPY), Canadian Dollar (CAD), British Pound Sterling (GBP), Euro (EURO), and Australian Dollar (AUD) are accepted by Punjab & Sind Bank (AUD). RFC fixed deposits in EURO, GBP, USD, and JPY are accepted by the bank.
Highlights of PSB FD Interest Rates 2022
| Highest short-term Fixed Deposit rate | 4.50% p.a. |
| Maximum medium-term FD rate: | 5.15% p.a. to 5.20% p.a. |
| Tenure range for the FD scheme: | 7 days to 10 years |
| PSB long-term deposit rate: | 5.40% p.a. |
| PSB Tax Saver FD rate for the general public: | 5.40% p.a. |
| PSB Tax saver Bank employee FD rate : | 6.40% |
| Senior Citizen PSB Tax Saver FD interest rate: | 5.90% |
| The maturity period for the FD Tax Saver scheme: | 5 years |
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Features of Punjab and Sind Bank FD Rates 2022
Some of the key features of the Punjab and Sind Bank FD Rates 2022 are as follows:
- Punjab and Sind Bank FDs can be opened for any deposit amount between zero and one million rupees.
- Punjab and Sind Bank offers the highest interest rate on FDs at 5.40 percent for a ten-year term, according to today’s rate.
- The tenure of FDs varies from 7 days to 10 years.
- The Interest rate is 3.00 percent per annum to 5.40 percent per annum
- The FD rate for Senior Citizens is 3.00 percent p.a. to 5.90 percent p.a.
- Deposits in Punjab and Sind Banks are safe since they are guaranteed by the Deposit Insurance Scheme of the Reserve Bank of India, which ensures up to 5 lakh of a depositor’s total deposits.
- The option of auto-renewal is available
- Individually or jointly, an FD account can be opened.
- It is also possible to open an account in the name of a minor.
- Punjab and Sind Bank offers loans against FD to its depositors to enable them to fulfill their liquidity needs without having to break their FD.
- Standard Fixed Deposit is a popular FD scheme.
- There is a nomination option available.
- You can open an FD account both online and offline through your PSB net banking account.
Punjab & Sind Bank FD Interest Rates 2022 Details
The Punjab & Sind Bank FD Interest rates are given in the table below:
| Tenure | Senior Citizen FD rates p.a. | Regular FD rates p.a. |
| 7 days to 14 days | 3.00% | 3.00% |
| 15 days to 30 days | 3.00% | 3.00% |
| 31 days to 45 days | 3.00% | 3.00% |
| 46 days to 90 days | 3.70% | 3.70% |
| 91 days to 120 days | 3.90% | 3.90% |
| 121 days to 150 days | 3.90% | 3.90% |
| 151 days to 179 days | 3.90% | 3.90% |
| 180 days to 269 days | 4.95% | 4.45% |
| 270 days to 364 days | 5.00% | 4.50% |
| 12 months to 24 months | 5.65% | 5.15% |
| 24 months 1 day to 36 months | 5.70% | 5.20% |
| 36 months to 60 months | 5.90% | 5.40% |
| 60 months 1 day to 120 months | 5.90% | 5.40% |
Note: The PSB Fixed Deposit rates are subject to change at any time.
Punjab & Sind Bank Account Opening
Punjab & Sind Bank NRE and NRO FD Interest Rates
The following are the interest rates for deposits of less than Rs.2 crore made by regular citizens:
| Tenure | Senior Citizen FD rates p.a. | Regular FD rates p.a. |
| 7 days to 14 days | 3.00% | 3.00% |
| 15 days to 30 days | 3.00% | 3.00% |
| 31 days to 45 days | 3.00% | 3.00% |
| 46 days to 90 days | 3.70% | 3.70% |
| 91 days to 120 days | 3.90% | 3.90% |
| 121 days to 150 days | 3.90% | 3.90% |
| 151 days to 179 days | 3.90% | 3.90% |
| 180 days to 269 days | 4.95% | 4.45% |
| 270 days to 364 days | 5.00% | 4.50% |
| 12 months to 24 months | 5.65% | 5.15% |
| 24 months 1 day to 36 months | 5.70% | 5.20% |
| 36 months to 60 months | 5.90% | 5.40% |
| 60 months 1 day to 120 months | 5.90% | 5.40% |
Types of Punjab and Sind Bank FD
The various types of Punjab and Sind Bank FD are as follows:
Fixed Deposit Ordinary Scheme
A fixed deposit ordinary plan can be opened for a term of 15 days to 10 years, and interest is paid quarterly.
Saving With Smile Deposit Scheme
This is a reinvestment plan in which the interest is compounded. The interest will be compounded quarterly and paid together with the principal when the account matures. The duration offered spans from three to ten years.
Capital Gain Deposit Scheme
If the capital gain sum is placed in a bank on or before the due date of submitting your income tax return, you will be free from capital gains.
Short-term Deposit Scheme
You can open a fixed deposit account for a short length of time, ranging from 6 months to 3 years, under this scheme.
Harhi Savni (Rabi Kharif) Jama Yojna
Farmers can take advantage of the Harhi Savni (Rabi Kharif) Jama Yojna to invest their funds during the time of harvesting. Each year, a minimum of Rs. 1,000 can be contributed between June 30 and December 31.
Punjab & Sind Bank Net Banking
Tax Saver
A tax-saving fixed deposit arrangement with a 5-year term is available.
Eligibility Criteria for Punjab and Sind Bank FD Rates 2022
The applicants applying for Punjab and Sind Bank FD Rates 2022 must fulfill the following eligibility criteria:
- Individual or joint FD accounts are available.
- The candidate cannot be insane or destitute.
- An FD account can be opened by businesses, corporations, and Hindu Undivided Families (HUFs).
- In the name of a minor, a guardian can open an FD account.
Required Documents for Punjab and Sind Bank FD Rates 2022
While filling up the application form for Punjab and Sind Bank FD Rates 2022, some important documents will be needed by the applicants, make sure to keep them handy. The documents required for Punjab and Sind Bank FD Rates 2022 are as follows:
- Punjab and Sind Bank FD Application Form
- Required KYC documents as stated by the bank.
Steps to Open a Punjab and Sind Bank FD Account
Applicants need to follow the below-given steps to Open a Punjab and Sind Bank FD Account
- First of all, go to the official website of the Punjab and Sind Bank i.e., https://punjabandsindbank.co.in/
- The homepage of the website will open on the screen
- Now log in to your FD account
- After that from the menu option, select the Fixed Deposit option, the Type of FD you want to open
- Now proceed further and enter the deposit amount
- After that, if your age is above 60 years, then select the Senior Citizen option
- Now, select the deposit tenure and interest payout frequency
- Now accept all the terms and conditions and click on the submit button to open the Punjab and Sind Bank FD.
Loan against Punjab and Sind Bank FD Account
Punjab and Sind Bank provides loans up to 90% secured by its deposits. It’s worth noting that Punjab and Sind Bank would not lend you money if you have an FD with another bank. Punjab and Sind Bank offers a loan against a fixed deposit (FD) at a rate of 4% to 6.4 percent. The maximum loan tenure is limited to the FD’s maximum term.
Earning up to ₹ 27,000 Per Lakh on Punjab and Sind Bank FD Account
On a Punjab and Sind Bank Fixed Deposit, you can earn up to 27,000 per lakh
To earn ₹ 27,000 per lakh on an online FD for 60 months
| Amount Invested | ₹ 1,00,000 |
| FD Interest Rate | 5.40% |
| Term | 60 months |
| Calculation formula | Simple interest |
| Interest Payout | ₹ 27,000 |
| Amount of FD Maturity | ₹ 1,27,000 |
Note: Before you invest in a fixed deposit account, compare the rates given by other financial organizations. You can earn the most money this way.
Calculator for FDs
The Fixed Deposit Calculator can be used to figure out how much interest and how much money the depositor will get at maturity. Because FD interest rates fluctuate, it is critical to evaluate the maturity amount of current interest rates before investing in a fixed deposit. The tool only requires a few pieces of information, such as the deposit amount and the term for which it is to be deposited. Users must also supply the rate of interest on which the maturity amount will be computed in addition to these two inputs.
FAQ’s
The highest FD rate available is 5.40 percent p.a. for tenures ranging from three to ten years.
Yes, a deposit of Rs. 1,000 is required.
Yes, senior persons can earn an additional 0.50 percent interest rate on deposits held for 180 days or longer.
Yes, you can apply for a fixed-rate deposit account on the Punjab and Sind Bank’s website. After applying, a bank representative will contact you to complete the next steps, which involve filling out an application and submitting KYC papers.
The amount you will get at maturity is determined by the deposit amount and the term you choose.